Wednesday, July 27, 2011

Analysis: Little by little, the sides are budging in debt debate

WASHINGTON -- The differences are narrowing, not widening, as the U.S. government struggles to avoid a financial default that neither President Barack Obama nor the leaders of Congress say they want.

That helps explain why day-old legislation unveiled by the House Republican leadership pulled off something of a political trifecta Tuesday before being scrapped.

Several rank-and-file GOP conservatives in Speaker John Boehner of Ohio's own party attacked it.

Senate Majority Leader Harry Reid of Nevada labeled it "dead on arrival" in his Democratic-controlled chamber.

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